Written by: Marissa Saini
Developed by CEL Development under Chip Eng Seng Corporation, Grandeur Park Residences’ made headlines after its strong weekend debut in which 58% of the total 720 units were sold, with buyers snapping up most of the 96 one-bedroom units on offer.
Aside from its unique wellness concept that differentiates the development from other “themed” condos, Grandeur Park Residences’ other lucrative attributes include its convenient location right next to Tanah Merah MRT station.
The property is expected to T.O.P. in March 2021.
Contents:
Is Grandeur Park Residences your ideal home?
1. Specifications
The sprawling property occupies a site area of 262,577 sqft.
| Project Name | Tenure | Unit Type | Size | Estimated Price |
|---|---|---|---|---|
| Grandeur Residences | 99-year leasehold | 1-bedroom 1-bedroom+study 2-bedroom classic 2-bedroom deluxe 2-bedroom+study 3-bedroom classic 3-bedroom deluxe 4-bedroom classic 4-bedroom deluxe 4-bedroom luxury 5-bedroom Penthouse | 420 – 1,453 sq ft Note: No price available for penthouse unit. | From $1,216 |
2. Location and Accessibility
For those who rely on public transport, homes near MRT stations are a necessity. Fortunately, Grandeur Park Residences is only 200m away from Tanah Merah MRT Station. Other stations like Bedok (a mature town with a wide range of shopping, lifestyle and dining options) and Expo (where you can visit a 100,000 sqm convention centre or shop discounted items at Changi City Point) are also along the East-West Line.
If you’re a driver, you’ll be able to easily get around the island via two highways – Pan Island Expressway (PIE) and East Coast Parkway (ECP).
3. Nearby Schools
The development’s prime location will win the hearts of those with school-age children. You’ll find schools that range from primary to tertiary level, such as Temasek Primary School, Anglican High School, St Anthony’s Canossian Primary and Secondary School, Temasek Polytechnic, Temasek Junior College and the Singapore University of Technology and Design.
4. Uniqueness of Grandeur Park Residences
This development stands out with its focus on a healthy, holistic lifestyle. Enjoy unorthodox facilities with wellness benefits you won’t typically find in other condos, such as the Himalayan Salt Room, Ice Therapy Corner, showers with sensory spa jets and a luxurious steam room. With many facilities dedicated to rejuvenating your mind and body, there’s hardly a need to splurge on extravagant spa trips anymore!
Imagine sporting a post-spa glow all year round!
5. Comparing rental rates of surrounding condos
According to Urban Redevelopment Authority (URA), neighbouring condo, eCo, fetches a monthly rental rate of up to $2,150 for a one-bedroom apartment and $2,700 for a two-bedroom apartment. The Glades, another nearby condo, report a slightly lower rental rate of up to $2,500 for one- and two-bedroom apartments.
You can check other rental rates for nearby two-bedroom properties using Ohmyhome.
Grandeur Park Residences has the makings of a perfect family home due to its prime location and proximity to a wide range of schools. At the same time, investing can also be fruitful as it’s a tantalising option for tenants looking for a home near an MRT station. It’s holistic lifestyle features makes it a standout from other neighbouring condos in the area.
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Buyer’s Stamp Duty for Grandeur Park Residences
Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.
If you opt to buy a two-bedroom unit (classic) at Grandeur Park Residences priced from $729,000, your Buyer’s Stamp Duty (BSD) is $16,470.
| Market Value of the Property | BSD Rate | Calculation |
|---|---|---|
| On the first $180k | 1% | $1,800 |
| On the second $180k | 2% | $3,600 |
| Next $369,000 | 3% | $11,070 |
| BSD Payable | $16,470 | |
Source: IRAS
Looking at another unit size? Use Ohmyhome’s In-app BSD calculator for faster calculation! Download Ohmyhome from the Play Store or App Store now!
Additional Buyer’s Stamp Duty for Grandeur Park Residences
Liable property buyers in Singapore are required to pay Additional Buyer’s Stamp Duty (ABSD) on top of the existing BSD. ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).
Who is liable to pay ABSD:
- Singapore Citizen (SC) buying second, third and subsequent residential property
- Singapore Permanent Resident (SPR) buying first, second and subsequent residential property
- Foreigners or entities buying any residential property
ABSD for Singapore Citizens when Buying Grandeur Park Residences
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $729,000 |
|---|---|---|
| If Grandeur Park Residences is your second residential property | 12% | $87,480 |
| If Grandeur Park Residences is your third or subsequent residential property | 15% | $109,350 |
ABSD for Singapore Permanent Resident when Buying Grandeur Park Residences
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $729,000 |
|---|---|---|
| If Grandeur Park Residences is your first property | 5% | $36,450 |
| If Grandeur Park Residences is your second or subsequent residential property | 15% | $109,350 |
ABSD for Foreigners when Buying Grandeur Park Residences
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $729,800 |
|---|---|---|
| Foreigners buying any property | 20% | $145,800 |
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Our real estate consultants will provide you insights about this new launch project and assist you with everything you need to know from Buyer’s Stamp Duty, Additional Buyer’s Stamp Duty, and exercising the OTP to sealing the deal.
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